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REGULATION/LEGISLATION

Congress agrees to fund federal government until September; fiduciary rule not touched

Congress reached agreement on a $1.1 trillion omnibus spending bill early Monday that keeps the federal government running through Sept. 30.

The deal, which not does include many of President Donald Trump’s budget priorities, does protect ongoing programs including infrastructure grants, Senate Minority Leader Chuck Schumer said in a statement.

House Minority Leader Nancy Pelosi said Democrats eliminated more than 160 Republican “poison-pill riders,” including rollbacks of some Dodd–Frank Wall Street Reform and Consumer Protection Act consumer protections and one that would have prevented the Department of Labor from implementing its fiduciary rule.

The package, which includes some funds for Puerto Rico’s underfunded Medicaid program, makes permanent health-care benefits for union mine workers but does not address pension liabilities of the severely underfunded $4.4 billion United Mine Workers of America 1974 Pension Plan, Washington, which could be insolvent by the end of the year. The 1,665-page document covers 11 of 12 fiscal year 2017 appropriations bills. It has to be approved by the House and Senate before Friday, when a temporary measure is set to expire.